Bell-Park (9441) Q2 2025 earnings summary

Executive summary

• Achieved higher sales and earnings in 1H 2025, with revenue rising 12.4% year-over-year to ¥64,231 million, driven by increased mobile phone sales, stock revenue, and ancillary products.

• Operating profit rose 38.8% to ¥3,762 million, and profit attributable to owners of parent increased 28.1% to ¥2,562 million.

• Number of mobile phones sold rose 9.6% year-over-year despite a slight decline in carrier shops, which totaled 330 at end-June 2025.

• Enhanced operational framework with more full-time employees and ongoing training initiatives.

• Growth was achieved despite higher selling, general, and administrative expenses.

Financial highlights

• Net sales for 1H 2025 reached ¥64,231 million, up 12.4% year-over-year.

• Operating income rose 38.8% to ¥3,762 million; ordinary income up 37.2% to ¥3,790 million.

• Profit attributable to owners of parent increased 28.1% to ¥2,562 million.

• Gross profit for 1H 2025 was ¥15,795 million, up from ¥13,748 million in 1H 2024.

• Basic earnings per share rose to 133.44 yen from 103.93 yen year-over-year.

Outlook and guidance

• Revised 2025 full-year net sales forecast to ¥119,200 million, up 4.6% from initial plan; operating income forecast raised to ¥5,500 million (+22.2% vs. initial plan); profit attributable to owners of parent forecast at ¥3,760 million (+25.3%).

• Basic earnings per share for the year is forecast at 239.60 yen, reflecting the impact of treasury share cancellation.

• Dividend payout ratio to be maintained at a minimum of 30%; dividend forecast for the year is 93 yen per share.

• No changes have been made to previously announced forecasts as of the reporting date.